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Section 30 of Limited Liability Partnership Act CAP 30: Limited partnership to keep proper accounting records.

    

(1) A limited liability partnership shall keep such accounting and other records as will—
(a) sufficiently explain the transactions and financial position of the partnership; and
(b) enable a profit and loss account and a balance sheet to be prepared, from time to time that gives a true and fair view of the state of affairs of the partnership.
(2) A limited liability partnership shall retain its accounting records for not less than seven years after completion of the matters to which they relate.
(3) A limited liability partnership shall keep its accounting records at such place as the partners consider fit and shall at all times be open to inspection by the partners.
(4) The Registrar may, by notice in writing to the limited liability partnership or any of its partners, require the partnership or that partner to produce the partnership’s accounting records for inspection by the Registrar at such time or with such period, and at such place, as is specified by that notice.
(5) If a limited liability partnership fails to comply with subsection (1), (2) or(3) The partnership and each of the partners commits an offence and is liable on conviction—
(a) if the offender is a natural person, to a fine not exceeding one hundred thousand shillings or to imprisonment for a term not exceeding two years or to both; and
(b) if the offender is a body corporate, to a fine not exceeding one hundred thousand shillings.
(6) A person who fails to comply with a notice given under subsection (4) commits an offence and is liable—
(a) if the offender is a natural person, to a fine not exceeding one hundred thousand shillings or to imprisonment for a term not exceeding two years, or to both; and
(b) if the offender is a body corporate, to a fine not exceeding one hundred thousand shillings.

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Disclaimer: This document is not to be taken as legal advise.

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